HARTFORD FINANCIAL SERVICES GROUP INC

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SEGMENT OPERATING SUMMARIES

|COMMERCIAL LINES - RESULTS OF OPERATIONS

[1]For additional information on current accident year catastrophes and prior accident year development, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves Development, Net of Reinsurance and Note 11 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Consolidated Financial Statements.

[3]Includes integration costs in connection with the 2019 acquisition of Navigators Group.

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Premium Measures

[1]Except for net new business premium, metrics for middle market exclude loss sensitive and programs businesses.

[2]Excludes Global Re and Continental Europe Operations and is before ceded reinsurance.

[3]Excludes Global Re, offshore energy policies, credit and political risk insurance policies, political violence and terrorism ("PV&T") policies, and any business under which the managing agent of our Lloyd's Syndicate delegates underwriting authority to coverholders and other third parties.

Underwriting Ratios

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Net income increased primarily due to lower net realized losses, a higher underwriting gain and higher net investment income. For further discussion of investment results, see MD&A - Investment Results.

Underwriting Gain

Underwriting gain increased driven by the effect of earned premium growth and slightly lower current accident year catastrophes, partially offset by slightly lower favorable prior accident year development.

Expense ratio decreased in 2023 driven by the impact of higher earned premium, lower incentive compensation and incremental savings from the Hartford Next program, partially offset by investments in technology and higher underwriter staffing costs.

[1]Other of $43, $46 and $52 for 2021, 2022 and 2023, respectively, is included in the total.

Written Premiums

[1]Other written premiums of $43, $46 and $52 for the year ended December 31, 2021, 2022 and 2023, respectively, is included in the total.

Earned premiums increased in 2023 due to written premium increases over the prior twelve months, including the effect of higher insured exposures.

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Written premiums increased in 2023 driven by growth across small commercial, middle & large commercial and global specialty.

•Small commercial written premium increased in 2023 driven by double-digit new business growth, renewal written price increases and higher insured exposures. Written premium grew in all lines of business, including package business, workers' compensation, auto and excess and surplus lines.

•Middle & large commercial written premium increased in 2023 driven by double-digit new business growth, renewal written price increases in all lines and higher insured exposures. Written premium grew in nearly all lines across general industries, specialty markets, large property and industry verticals.

•Global specialty written premium increased in 2023 driven by written price increases across almost all lines as well as an increase in gross new business. Written premiums grew across most U.S. lines, international lines, and global reinsurance.

Renewal written price increases were recognized in nearly all lines in 2023, with price increases across most lines other than director's and officer's.

•In small commercial, renewal written price increases were higher in 2023, with high-single digit price increases in package business and automobile and double-digit increases in excess and surplus lines. Workers' compensation pricing was slightly positive, but moderated from 2022 due to lower net rates and wage inflation.

•In middle market, the Company recognized high single-digit to low double-digit price increases in most lines other than workers’ compensation, which was slightly positive due to the effect of wage inflation largely offset by lower net rates.

•In global specialty, price increases continued to moderate from prior year levels and we achieved low single-digit renewal written price increases overall, with the highest increases in property, marine and casualty lines.

Current Accident Year Loss and LAE Ratio before Catastrophes

Current Accident Year Loss and LAE ratio before catastrophes increased slightly in 2023 as a higher loss ratio in workers' compensation was offset by lower net non-catastrophe property losses driven by middle & large commercial.

Catastrophes and Unfavorable (Favorable) Prior Accident Year Development

Current accident year catastrophe losses for 2023 included losses from tornado, wind and hail events across several regions of the United States, and losses from winter storms along the East and West coasts.

Current accident year catastrophe losses for 2022 included losses for Hurricane Ian, tornado, wind and hail events primarily in the Midwest, South, Mountain West and Great Plains, losses from winter storms, including Winter Storm Elliott, and $27 of losses, net of reinsurance, related to the Ukraine conflict.

Prior accident year developmentwas net favorable for 2023 and included reserve decreases for workers' compensation, catastrophes, bond and package business, partially offset by reserve increases for general liability, assumed reinsurance and automobile liability.

Prior accident year development was net favorable for 2022 and included reserve decreases for workers' compensation, catastrophes, package business and bond, partially offset by reserve increases for automobile liability, general liability and assumed reinsurance. In 2022, an increase in reserves for general liability related to excess casualty and primary construction was largely offset by a reallocation of a portion of

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reserves for sexual molestation and sexual abuse claims from Commercial Lines to P&C Other Operations. The reallocated reserves relate to excess liability policies written by a legal entity in P&C Other Operations for amounts owed to claimants under the agreement in principle reached with the BSA on sexual molestation and sexual abuse claims in third quarter 2021. In total for the Company, there was no change in 2022 in the liability for settlement amounts owed on the BSA claims.

In 2024, the Company expects written premium growth to arise from new business, including from expanding addressable markets and distribution, maintaining steady retention, and

increases in written pricing in nearly all lines of business. Management expects renewal written pricing increases, excluding workers’ compensation, to be consistent with 2023, while workers’ compensation pricing is expected to be flat to slightly negative. Written pricing increases in 2024 may be driven by a number of factors including the impact of materials, labor and social inflation costs on loss trends. While we anticipate slight, pricing-related headwinds in workers’ compensation margins in 2024, we expect to generate earned pricing in excess of loss trends on the remainder of the Commercial Lines book, but remain subject to the inherent volatility in catastrophe and underlying property results.